I am doing a refi + cash out on a rental home. The cash out is to pay off ~24K in credit cards. I am aware of secured debt/unsecured debt and how it is often not a good idea to refinance a home to pay down credit card debt. I have done the math and […] Read more

My wife and I just called the customer service department of a credit card company, only to find them “unable” (at the account manager level) to lower the 25% APR on the card. The guy went on to say that everything’s been switched to automated with no ways for them to do anything about it […] Read more

What is the value of a good credit score if the person is so financially independent (AKA wealthy) to the extent of not ever needing to borrow money again in the form of a mortgage, car loan or credit card? E.g., ethical reasons notwithstanding, if one won a few million dollars in lottery and owed […] Read more

I would like to understand whether it is better to make extra payments on a home loan that includes PMI (Private Mortgage Insurance) or a different (high interest) loan. Typically, when deciding between paying off one loan or paying off another, I would choose the loan with a higher interest rate. However, PMI complicates this […] Read more

Through many bad decisions on my part, a divorce, 2 kids in college and a third heading there in the fall, I am in over my head. I have been robbing Peter to pay Paul for a few months now (paying utilities, gas, groceries, medical bills etc…with credit cards) and have now reached the point […] Read more